Sheffield Corporation purchased machinery on January $1,2025,$ at a cost of $$284,000.$ The estimated useful life of the machinery is $4$ years, with an estimated salvage value at the end of that period of $$33,400.$ The company is considering different deprecion methods that could be used for financial reporting purposes.

$($a$)$

Your answer is partially correct.

Prepare separate depreciation schedules for the machinery using the straight$-$line method, and the declining$-$balance method using double the straight$-$line rate.

STRAIGHT$-$LINE DEPRECIATION